Additional Security Covenants Clause Samples
The "Additional Security Covenants" clause sets out specific obligations for a party, typically a borrower, to provide or maintain extra forms of security or collateral beyond the primary security interest already established in an agreement. This may include requirements to pledge additional assets, maintain certain asset values, or take actions to perfect security interests as conditions change. By imposing these covenants, the clause ensures that the lender's position remains protected against increased risk or changes in the borrower's financial situation, thereby safeguarding the lender's interests and reducing the likelihood of unsecured exposure.
Additional Security Covenants. ▇▇▇▇▇▇▇▇ agrees to execute and deliver to Lender at Closing and at any time thereafter so long as any Obligations remain outstanding, any security documents, instruments or other agreements as reasonably requested by ▇▇▇▇▇▇ and related to the Collateral, or any portion thereof, and further authorizes Lender to file any such documents, instruments or other agreements, or other proper notice of ▇▇▇▇▇▇’s security interest, and any continuation statements or amendments thereto, with any filing authority that Lender deems appropriate. PROVIDED, FURTHER, that each Obligor agrees that to the extent accepted by the applicable filing authority, a carbon, photographic or other reproduction of this Agreement, or any memorandum thereof, with respect to the Collateral shall be sufficient as a financing statement and may be filed as such by ▇▇▇▇▇▇, and that ▇▇▇▇▇▇ may execute any financing statement filed pursuant to this Section either in its own name or in that of any applicable Obligor. In addition, upon request of ▇▇▇▇▇▇, Borrower shall cause deposit account control agreements to be executed and delivered in favor of Lender from each financial institution in which Borrower maintains deposit or securities accounts upon request of Lender for any accounts in which control agreements were not delivered at Closing or in which are not effective, each in form and substance acceptable to Lender.
Additional Security Covenants. Borrower agrees to execute and deliver to Lender at Closing and at any time thereafter so long as any Obligations remain outstanding, any security documents, instruments or other agreements as reasonably requested by Lender and related to the Collateral, or any portion thereof, and further authorizes Lender to file any such documents, instruments or other agreements, or other proper notice of Lender’s security interest, and any continuation statements or amendments thereto, with any filing authority that Lender deems appropriate. PROVIDED, FURTHER, that each Obligor agrees that to the extent accepted by the applicable filing authority, a carbon, photographic or other reproduction of this Agreement, or any memorandum thereof, with respect to the Collateral shall be sufficient as a financing statement and may be filed as such by Lender, and that Lender may execute any financing statement filed pursuant to this Section either in its own name or in that of any applicable Obligor.
Additional Security Covenants. (a) Borrower does not have any chattel paper (whether tangible or electronic) or instruments as of the date hereof, except as set forth in Schedule 5.3